China’s foreign exchange reserves declined in September, figures from the People’s Bank of China showed over the weekend.

Forex reserves totaled $3.092 trillion at the end of September compared to $3.107 trillion in August. The expected level was $3.105 trillion.

Factory orders data from Germany and investor confidence figures from euro area are due later in the session, headlining a light day for the European economic news.

Economists expect German factory orders to drop 0.4 percent sequentially in August, following a 2.7 percent decrease in July. The euro zone confidence indicator is seen at -13 in October versus -11.1 in September.

On Wall Street, the major three averages surged around 1.4 percent on Friday as moderate jobs growth in September offered some relief for markets following a string of weak economic reports earlier in the week.